On January 1, 2027, the European Union will ban anonymous cryptocurrency accounts and impose a €10,000 cap on cash transactions.

This is not about safety. It is about who controls your money and when you can use it.

The European Union is set to impose sweeping Anti-Money Laundering (AML) rules that will ban privacy-preserving tokens and anonymous cryptocurrency accounts from 2027.

Under the new Anti-Money Laundering Regulation (AMLR), credit institutions, financial institutions and crypto asset service providers (CASPs) will be prohibited from maintaining anonymous accounts or handling privacy-preserving cryptocurrencies, such as Monero XMR and Zcash ZEC.

“Article 79 of the AMLR establishes strict prohibitions on anonymous accounts […]. Credit institutions, financial institutions, and crypto-asset service providers are prohibited from maintaining anonymous accounts,” according to the AML Handbook, published by European Crypto Initiative (EUCI).

The regulation is part of a broader AML framework that includes bank and payment accounts, passbooks and safe-deposit boxes, “crypto-asset accounts allowing anonymisation of transactions,” and “accounts using anonymity-enhancing coins.”

https://cointelegraph.com/news/eu-crypto-ban-anonymous-privacy-tokens-2027